Brokerages Set Enbridge Inc. (TSE:ENB) Target Price at C$55.25

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have earned an average recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$55.25.

A number of analysts recently commented on ENB shares. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. CIBC upped their target price on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. National Bankshares upped their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th.

Insider Buying and Selling

In other news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. In other news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams bought 18,600 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is owned by corporate insiders.

Enbridge Stock Performance

TSE:ENB opened at C$57.50 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a twelve month low of C$43.21 and a twelve month high of C$57.57. The company has a fifty day moving average of C$54.60 and a 200-day moving average of C$51.08. The firm has a market capitalization of C$125.35 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. As a group, sell-side analysts anticipate that Enbridge will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.37%. Enbridge’s dividend payout ratio is currently 140.77%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.